Wall St set for muted open ahead of Fed policy decision
© Reuters. Traders work on the floor at the New York Stock Exchange in New York City, U.S., October 27, 2023. REUTERS/Brendan McDermid
The Fed is widely expected to keep interest rates unchanged, but investors will focus on Chair Jerome Powell's conference at 1430 ET after the statement to gauge how long the central bank could keep rates elevated. "Data continues to show consumer strength and broader economic strength in the U.S. and against that, is the long end of the curve, which is to some extent acting like rate hikes."
Helping futures cut early declines, the yield on the 10-year note slipped after the refunding news and was last at 4.845%.
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